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| LUNAR DIAMONDS LIMITED |
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| THE COMPANY |
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Lunar Diamonds Ltd (LDL) was incorporated on August 28, 1989 vide Registration No.55-37504 and was registered in the state of Delhi with the main object of carrying on the business of jewellers, processors, importers, exporters, traders, sellers, buyers, dealers and agents of all kinds of diamonds, gem stones, precious stones, bullion and ornaments made of gold, silver, platinum or other pure and alloy metals, precious metals, minerals and articles and thereof, including jewellery, decorative and priceless and precious arts and crafts, precious and semi-precious stones, chips and tiles thereof. The Company's turnover grew at a steady rate from 1990 to 1995 when it registered a turnover of Rs.7361 lacs and a net profit of Rs. 761 lacs |
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in the year 1994-95. The Company's turnover grew at a steady rate from 1990 to 1995 when it registered a turnover of Rs.7361 lacs and a net profit of Rs. 761 lacs in the year 1994-95. The Company was also a regular dividend paying company till 1994-95. However, the Company's operations suffered a setback in 1995-96 (18 months) when despite increase in turnover i.e. Rs. 12202 lacs the net profit slipped to a meagre of Rs. 88 lacs. The Company's operations received further setback in 1996-97 (15 months) when it incurred a loss of Rs. 3457 lacs due to non realisation of export proceeds from the foreign buyers, the bankers not releasing sanctioned limits in full during critical times, non materialization of the project of private export processing zone proposed to be developed due to various constraints created by local authorities, devaluation of Indian rupee resulting in increased cost of inputs, lower capacity utilisation and high overheads especially the interest component charged by the Banks and Financial Institutions topped by steep fall in prices of gold and diamonds worldwide. |
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| INDUSTRY STRUCTURE AND DEVELOPMENTS - |
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Since time immemorial, India has been synonymous with gems and jewellery, India has given the world some of the most rarest and mystic diamonds. India was, at one time, the undisputed leader in this field. Diamond production in India can be, traced back to almost the 8th century BC, when the first ever diamond in the world was mined in India. Some of the superlative, most famous diamonds of the world like the Great Moghul, Kohinoor, Hope, Pitt, Nizam, etc. were born in India. In fact, India was the sole producer and supplier of diamonds to the world before the discovery of Brazilian fields in the 17th century and the later emergence of South Africa, Russia and Australia, as major producers. |
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The success story of the Indian diamond industry is unique. From humble beginnings, India rose to become the world leader in a span of just 2 decades. India now accounts for nearly 55% of world net exports of cut & polished diamonds in value terms, 90% in terms of pieces and 80% by cartage. No other export segment of the country has such a significant share in the world market. |
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Sunder Lal Maloo Lunar Diamonds, About Sunder Lal Maloo, Sunder Lal Maloo, SL Maloo |
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